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Frequently asked questions on termination payments
Inbrief29 March 2023
Our FAQs Inbrief looks at some of the common tax questions that arise on termination of employment.
Lifting the cap21 December 2022
One of the few proposals to survive from Kwasi Kwarteng’s Growth Plan in September 2022 is the abolition of the so-called bankers’ bonus cap. We take a look at the consultation paper that has just been published.
Tax rules for employment intermediaries - what this means for agencies and employment businesses
Inbrief31 October 2022
Over recent years a number of anti-avoidance measures have been introduced in a bid to tackle “disguised employment”. Disguised employment refers to those situations where arrangements are implemented to falsely treat employees or workers as self-employed, primarily to gain a tax or National Insurance Contributions (NICs) advantage.
Inbrief18 October 2022
The introduction of IR35 for the private sector took effect from April 2021 and represented the biggest change to employment tax for decades.
IR35 reversal reversed!17 October 2022
Plans to repeal IR35 tax-avoidance reforms in April 2023 have been scrapped as part of a major reversal of proposed tax cuts.
Gender pay gap reporting in Ireland – updated guidance clarifies some (but not all) tricky issues20 July 2022
The gender pay gap reporting regulations in Ireland were published last month. Straight away, a number of issues with interpretation were apparent. The government has now clarified some (but not all) of these.
Court of appeal decision gives comfort on employment status for tax purposes26 May 2022
The Court of Appeal has held that when determining employment status of an individual for tax purposes the contractual terms should not be disregarded unless they are unrealistic. This decision offers some comfort to businesses which engage self-employed contractors, including those in the gig economy.
Spring Statement 2022: Brevity is the Soul of Wit23 March 2022
I’m a big fan of 90 minute films, 250 page books and exhibitions comprising precisely two rooms, so it should come as no surprise that I appreciated the Chancellor’s snappy Spring Statement which clocked in at around the 27 minute mark. We’re all busy (and there's not much to report), so my summary of the key tax announcements affecting businesses and entrepreneurs will follow that style.
Remuneration regime: consultation on material risk takers29 September 2021
The Prudential Regulation Authority is consulting on changes to the identification of material risk takers for banks, building societies and PRA-designated investment firms
IR35 compliance checks: are your ducks in a row?23 September 2021
Nearly six months on from the introduction of a new IR35 regime in the private sector, HMRC has started IR35 compliance checks in both the financial services and the oil and gas sectors.
New Remuneration Code - For investment firms regulated under the Markets in Financial Instruments Directive02 September 2021
Since the 2007/08 financial crisis, as a result of both UK government and European initiatives, the financial services industry has been the focus of wide-ranging reform.
How to structure employee remuneration packages after Covid-19?01 September 2021
A principal concern for employers has always been finding the best way to retain and incentivise key staff. In the wake of Covid-19, with employers facing skills shortages, that concern has increased not only for key staff but also the wider workforce. With many businesses dealing with escalating costs and cash flow difficulties, how can employers ensure that their remuneration packages are competitive?
Remuneration codes - For banks, building societies and investment firms
Inbrief19 August 2021
Since the 2007/08 financial crisis, the financial services industry has been the focus of wide-ranging reform as a result of both UK government and European initiatives. For banks, building societies and designated investment firms the latest reforms, implementing the fifth set of amendments to the EU Capital Requirements Directive (CRD V), took effect for performance periods beginning after 28 December 2020.
Sports Q&A - What do clubs, agents and players need to be aware of regarding payments of agents’ fees?28 April 2021
In recent years, HM Revenue & Customs (“HMRC”) have ramped up their investigations into the tax affairs of the football industry with a particular focus on the tax treatment of agents' fees. According to research by the accountancy firm UHY Hacker Young, the number of footballers investigated by HMRC rose dramatically in the tax year 2019-20, going up from 87 to 246 individuals, and the number of investigations into the tax affairs of football agents also increased substantially, more than doubling from 23 in 2018-19 to 55 in 2019-20.
Resourcing for 2021: wider impacts of the present crisis10 March 2021
The final instalment of our three-part series of articles exploring resourcing challenges, opportunities and trends in 2021 examines a range of employment issues including reward strategy, outsourcing and collective representation.
Clarification of IR35 reforms in Budget04 March 2021
Helpful clarifications of the forthcoming changes to off-payroll working arrangements in the private sector were contained in a policy paper released by HMRC as part of the 2021 Budget.
The world of employment law: Pay and reward02 March 2021
Employer responsibilities in terms of fair pay and contributions towards taxes and company benefits have remained high on the agenda, despite a difficult year for business.
Réforme de l’IR35 à compter d’avril 202120 January 2021
La réforme proposée de l’IR35 représente le plus grand changement apporté à la taxe à l’emploi depuis des décennies.
Lewis Silkin wins Real Estate Team of the Year Award 2020
Press Release06 November 2020
Lewis Silkin has won the accolade of Real Estate Team of the Year award at The Lawyer Awards 2020 for their work on Earl’s Court Regeneration.
IR35: a welcome sigh of relief15 October 2020
New guidance released by HMRC offers some re-assurance to businesses looking to hire contractors through agencies or umbrella companies. Despite broad wording in the Finance Act potentially suggesting otherwise, HMRC guidance indicates that they will not require the new IR35 rules to be operated if the contractor is an employee of a third party such as a UK based agency or umbrella company.